GO
Loading...

U.S. Making Progress On Chinese Piracy Fight

How goes the battle against Chinese intellectual piracy? John Taylor, Hoover Institute fellow and former Treasury department undersecretary, joined James Bacchus, chairman of the global trade practice group at Greenberg Traurig, to reassure "Power Lunch" viewers that "we're making progress as we speak."

Bacchus, who also served as chairman of the World Trade Organization's appellate body, told CNBC's Sue Herera that the U.S. must pressure China "on a number of fronts -- and it is." He agreed with China's Vice Premier Wu Yi, who cautioned that "domestic politics shouldn't cloud sound economic decisions" -- and he said that protectionist backlash is a "legitimate fear."

But Bacchus said the two copyright infringement suits filed by the U.S. with the WTO are "not about protectionism -- they're about our rights under the WTO framework." He said they're also rights that China agreed to acknowledge when it signed off on the WTO treaty. He declared that Beijing's cracking down on piracy will only help lower trade barriers, in turn helping China.

Taylor agreed, maintaining that China is "working to enforce the law more" and is "prosecuting more cases." He pointed to moves like Beijing's reported investment in Blackstone as proof that the Pacific country and the U.S. are making "good, steady progress" on currency negotiations, too.

Featured

Contact

  • Showtimes

    United States
    Monday - Friday 1:00P ET
    Europe
    Monday - Friday 18:00 CET
    Asia Pacific
    Tuesday - Saturday 01:00 SIN/HK
    Australia
    Tuesday - Saturday 03:00 AEST
  • Sue Herera is a founding member of CNBC, helping to launch the network in 1989. She is co-anchor of "Power Lunch."

  • "Power Lunch" & “Nightly Business Report” Co-Anchor

Power Pitch

Kenny Polcari